More than half (56%) of 18-40 years olds who own or are considering investments trust artificial intelligence tools, more than TV and radio (47%), press (46%) or social media influencers (29%), according to research from the Financial Conduct Authority.
Surveying 666 adults, the research found four in five less experienced investors have used AI for help with investing and around two thirds report doing so occasionally or regularly. Almost half of the respondents (44%) believed AI-generated financial information is regulated while 38% said they believe it is fine to make an investment decision based solely on AI outputs. Additionally, 32% wrongly thought they would get compensation from the Financial Services Compensation Scheme (FSCS) or Financial Ombudsman Service (FOS) if AI advice went wrong. Yet the survey highlighted 73% kne...
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